The VA Home Loan Program - An Amazing Benefit for Amazing People

I will admit it...I have a soft spot in my heart for anyone that has ever served our country in the armed forces. It takes a lot of dedication and selflessness to defend 300 million American citizens. Especially since you only personally know, or have met,  approximately 0.000001% of the population (okay, so maybe you are super popular and you know 0.000002%, but you don’t even like anywhere close to that many people.) I love working with Veterans mainly because they inspire me to be a better person and look at the bigger picture. Which is why I am so glad that our government has made it easier for Veterans and their family to become homeowners. I mean, really, it’s the very least we can do.
The VA Loan is designed to help Servicemembers, Veterans, and eligible surviving spouses become homeowners. The loans are provided by private lenders, such as banks and mortgage companies and the VA then guarantees a portion of the loan, enabling the lender to provide you with more favorable terms.

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The benefits of the VA Loan programs are substantial. Their mortgage loans help you purchase a home at a competitive interest rate, often without requiring a downpayment or private mortgage insurance (PMI). In case you missed that...0% down! That alone is huge! They also have Cash Out Refinance loans that allow you to take cash out of your home equity to pay off debt, fund school, or make home improvements. Loans are available for homes for you or a spouse and/or dependent (for active duty service members).
To be eligible, you must have satisfactory credit, sufficient income to meet the expected monthly payments, and a valid Certificate of Eligibility (COE). ​

Here are some other mortgage loan programs offered by the VA:

• Interest Rate Reduction Refinance Loan (IRRRL): Also called the Streamline Refinance Loan. The IRRRL is a "VA to VA" loan, meaning it can only be done if you have an existing VA guaranteed loan on the home. The IRRRL is generally performed to lower the interest and reduce the monthly payment on the existing VA loan. Click here to learn more.

• Native American Direct Loan (NADL) Program: Helps eligible Native American Veterans finance the purchase, construction, or improvement of homes on Federal Trust Land, or reduce the interest rate on a VA loan. Your tribal organization must participate in the VA direct loan program. You must have a valid Certificate of Eligibility (COE) Click here to learn more.

• Adapted Housing Grants: Helps Veterans with a permanent and total service-connected disability purchase or build an adapted home or to modify an existing home to account for their disability. You can apply for an SAH or SHA grant by either downloading and completing VA Form 26-4555 (PDF) and submitting it to your nearest Regional Loan Center, or completing the online application. Click here to learn more.

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• Other Resources: many states offer other resources to Veterans, including property tax reductions to certain Veterans. Florida veterans should go to http://floridavets.org/ to find out what other benefits your state offers.

So, what are you waiting for?! I would love to meet you and work at finding a hero a place to call home! Call me anytime 386-315-4162 and let's find you your dream home!

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